Watch out for banking stocks

Banking shares will be buzzing ahead of Reserve Bank’s review of the monetary policy. Most players expect the RBI to keep the policy rates unchanged during its credit policy review but a hike in cash reserve ratio is likely.

According to reports, engineering and construction major Larsen & Toubro has bagged the master contract for the redevelopment of the Mumbai airport. This could boost the company’s shares.

Telecom shares are likely to witness some action as TRAI has approved the reference interconnect offer of the three undersea cable owners — Reliance, Bharti and VSNL— paving the way for long distance operators and internet service providers to access the trios’ cable landing systems at competitive rates.

Reports suggest that billionaire Mukesh Ambani has become the richest person in the world, surpassing American software magnate Bill Gates and Mexican business tycoon Carlos Slim Helu and investment guru Warren Buffett. Reliance group shares could see a sentimental rise on the news.

The market will eye an array of corporate results to be declared today. Hindalco Industries, Ramco Systems, HMT, MTNL, Ispat Industries, Central Bank of India, Bombay Dyeing, Power Grid Corporation, Sterling Biotech, Birla Corporation, Hindustan Unilever, CESC, Puravankara Projects will announce earnings for the July-September quarter.